Queensway, Crawley, West Sussex RH10
£49.25 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
60,910 sq ft
5,659 sq m
- SECTOR
Residential development for sale
Key features
- 3-storey commercial freehold building extending to approximately 42,399sq.ft. situated on a site of 0.61 acres
- Currently trading as Marks & Spencer, the property is to be sold with the benefit of full vacant possession on 14th February 2025
- Potential for asset management opportunities or re-development (STPP) with indicative plans produced showing potential for 50 residential units and retention of commercial space
- Offers invited in excess of £3,000,000 which reflects a low capital value of £93.16/sq.ft.
Description
Floor GIA Sq Ft
Ground: 19,370
First: 18,678
Second: 18,403
Third: 4,459
Total: 60,910
LOCATION:
The subject property, currently occupied by M&S, is located in a 100% prime, corner position at the
Junction of Queens Way and The Pavement.
Other nearby occupiers include New Look, Poundland and Barclays Bank. The property also
benefits from its close proximity to the County Mall shopping centre which is well supported by the County Mall North Car Park.
TENANCY:
The property is currently occupied by Marks & Spencer who is contracted to provide full vacant possession on 14th February 2025. It is anticipated that a sale of the property will be completed on a side-by-side basis with this date.
The property specification handover has been agreed with M&S and further information is available upon request.
ASSET MANAGEMENT:
The subject property is situated within a prominent location in Crawley town centre and could be suited to an array of alternative uses, subject to planning and feasibility.
We believe options include:
* New Lease - agreeing on a new lease to an occupier within the demise currently occupied by M&S.
* Residential Development - we believe there is an opportunity for the upper floors to be converted to residential, with the possibility of adding additional floors. Our client's architect has prepared plans showing the potential for a 50-unit scheme of one, two, three and four bedroom apartments, whilst retaining the ground floor as commercial. Alongside Crawley's Affordable
Housing Policy, there have been several council-led affordable housing development schemes delivered or are under construction in the town centre, providing a sustainable location for people to live and work.
* Leisure - there are numerous requirements for large town centre space from
indoor entertainment and experiential leisure occupiers.
* Mixed-Use Redevelopment - we believe the ground floor could be reconfigured to provide a combination of high-quality retail and leisure units. The upper parts could then be repurposed for either residential, office or hotel use.
VAT:
The property is elected for VAT.
Brochures
Queensway, Crawley, West Sussex RH10
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Crawley Station0.3 miles
- Three Bridges Station1.1 miles
- Ifield Station1.3 miles
Notes
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